NCLT Mumbai admits UCO Bank's application to initiate insolvency against personal guarantor Mr. Niraj Jayanti Lal Mehta for Janta Glass Ltd's default.
Total outstanding debt amounts to ₹699.13 crore as of January 2024, with guarantee invoked in February 2024.
Tribunal appoints Sun Resolution Professionals as RP, declares moratorium, and directs creditor claims process.
Order finds application compliant with invocation requirements and within limitation period under IBC provisions.